The funds to finance the construction of the “Caucasus” ferry crossing are not appropriated in Armenia’s 2002 budget. As”Arka” informs the transport and communication ministry has introduced 1 billion-dram claim ($ 1700000), “that was not considered”. According to Minister Andranik Manukyan, the share of the Armenian part in the project financing is $3.5 million. He has informed that $1700000 for the construction work is appropriated in Russia’s budget that finances the works on a par with Armenia, ” and the rest of the funds are planned to be obtained through private investments”. The minister has noted that ” the exploitation the Poti-“Caucasus” port might help to decrease the freight by 30% on average”. He has informed that under the conditions of the lack of the budget financing the ministry have talks on the attracting of private capital. According to Manukyan, the Black Sea trade and development bank is ready to give $ 12 million for the purchase of two ferries. It should be noted that the project cost of the reconstruction of the railway crossing between the Caucasus and Poti ports is $ 19 million. According to the experts’ assessment, the project profitability will be 15-20%, if turnover is 600 thousand tons of goods. It is planned that the volume of goods that will be transported through the crossing will be not less than 2 million tons annually.
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